For the first time since the Nixon administration, one of San Francisco’s most coveted waterfront dining locations is hitting the market, and local restaurateurs are lining up for their shot at culinary glory. Pier 7, nestled between the Ferry Building and the Exploratorium, just became available after The Waterfront Restaurant closed its doors in late December following a 57-year run. This isn’t just any restaurant space, it’s a nearly 10,000-square-foot waterfront gem with unobstructed views of the bay, two full kitchens, seating for 350 people, and multiple outdoor patios.

The timing couldn’t be better (or more daunting). According to Catherine Meunier, a real estate agent marketing the space for the Port of San Francisco, whoever lands this lease needs to bring serious vision. “We’re not looking for someone who’s going to coast on the views,” she said. And that’s the reality check here, the views are absolutely stunning, but they alone won’t cut it anymore.

The challenge? This isn’t a cheap renovation. Since the property sits on Port of San Francisco land, any renovations require prevailing wage crews, which means contractors could be looking at $600 to $1,000 per square foot. For the indoor space alone, that’s upward of $9 million. Meunier isn’t mincing words about what needs to happen: a complete overhaul.

But there’s serious interest bubbling up. Restaurateurs with experience have been eyeing this spot for years, waiting for exactly this kind of generational opportunity. Newer operators are also circling, hoping to plant their flag on this iconic stretch. The proposals coming in reflect diverse visions, seafood-focused spots, Asian concepts, Italian restaurants, and steakhouses, all with fresh interiors that won’t overshadow those incredible water views.

One major player who recently toured the space is Larry Mindel, the 88-year-old former owner of the Il Fornaio chain and current proprietor of Poggio and Copita. He showed up with his son, grandson, director of operations, and architect Anthony Fish, whose firm designed spots like Little Original Joe’s and Angler. Mindel told Fish the space has “good bones” and was “underutilized previously”.

Mindel is seriously considering the opportunity, even though he’d basically retired from opening new restaurants. His vision involves collaborating with a chef who’s also an avid fisherman, combining locally caught seafood with high-end imported ingredients like Maine lobster. “If it’s done right it could be the fabulous restaurant in the city,” Mindel said.

The port expects at least three official proposals, with a few other groups planning return visits with architects and investors. The lease would be long-term (at least 10 years) and structured with base rent plus a percentage of sales. Real estate agents are betting this could be the spark that revitalizes the entire north waterfront dining scene, which has taken a backseat to trendy neighborhoods like Dogpatch and Mission Rock in recent years. The goal is simple: bring back the vibrancy that made this waterfront legendary.